Regulatory Alerts (All)
Are You Ready for the 2014 UFR?
Chapter 257 of the Acts of 2008 placed the authority for determining human and social service reimbursement rates with the Executive Office of Health and Human Services (EOHHS). The Uniform Financial Report (UFR) is a key source for the financial data used in this analysis. In 2013, the UFR Preparation Manual instructions listed the activity […]
Taxpayer IRS Scam Alert – Tax Return Report
We have been alerted that a number of taxpayers are receiving emails from scammers representing themselves as IRS agents. The IRS does not initiate contact with taxpayers by email to request personal or financial information – this includes any type of electronic communication, such as text messages or social media. In late March, a number of phishing […]
New Guidance for Nonprofits on Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards
The Office of Management and Budget (OMB) issued an omnibus OMB Circular – colloquially referred to as the “Supercircular” – to streamline the Federal government’s guidance on administrative requirements, cost principles, and audit requirements for Federal awards. The objective of this reform is to reduce both administrative burden and risk of waste, fraud, and abuse […]
Massachusetts DOR Suspends Computer Service Sales Tax Collection for 30 Days
The Massachusetts Department of Revenue has suspended collection and reporting of the sales tax on computer services for thirty days, pending final enactment and signature of the repeal recently announced by Governor Patrick and the Legislature. Reporting and payment of these particular taxes that cover the period July 31, 2013 to September 30, 2013 should […]
Tax Holiday Guidance Issued by Massachusetts Department of Revenue
The Massachusetts legislature has authorized a Sales Tax holiday for the weekend of August 10-11, 2013 for items costing less than $2,500. The Massachusetts Department of Revenue (MDOR) recently issued guidance to consumers and retailers, some of the highlights are as follows: Sales tax will continue to apply to the full price of any item […]
Tax Implications from The US Supreme Court DOMA Ruling
On June 26, 2013 the Supreme Court held in United States v. Windsor that Section 3 of the federal Defense of Marriage Act (“DOMA”) is unconstitutional. As a result the federal government will now recognize marriages between same sex couples that are valid under state law. Section 3 of DOMA provided that only persons of […]
Computer and Software Services Now Subject to Sales and Use Tax
On August 1, 2013, the Massachusetts Department of Revenue published a list of Frequently Asked Questions relating to the new tax. Click here for additional information. The Massachusetts legislature, as part of the new fiscal year, passed a transportation funding bill that newly subjects Computer and Software services to sales and use tax. The time […]
Department of Revenue Requirement to "Certify Your Tax Status"
Many companies located in Massachusetts have received an email this week from the Department of Revenue (“DOR”) informing them of a requirement to “certify their tax status” on line via the DOR WebFile site before April 1. The purpose of obtaining this certification is to allow the DOR to publish a list of businesses qualifying […]
Update to IRS Form 8955-SSA
If you file a Form 5500 for a retirement plan, you should be aware of changes to the old SSA schedule to report participants who have separated from service covered by the plan, and who retain a deferred vested benefit in a retirement plan. Since the 2009 tax year, IRS Form 5500 was required to […]